Output from an Accounting Information System Would NOT Include

question 18

Multiple Choice

Output from an accounting information system would NOT include:

• A)Checks to vendors
• B)Invoices from vendors
• C)Customer statements
• D)Purchase orders

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Definitions:

Current Assets

Assets that are expected to be converted into cash, sold or used up within one year or within the entity's operating cycle, whichever is longer.

Total Assets

The aggregate of all assets owned by a business, evaluated at cost or market value on the balance sheet.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, used to prepare financial statements.

Prepaid Insurance

An asset account that represents insurance premiums paid in advance, which are expensed over the period the insurance coverage relates to.